Weekend Reading
Below is research on one of the 7 reasons I remain a 20 shareholder ((Sleep Apnoea)). The other 6 reasons are the remaining 5 clinical trials and most importantly the #1 is the IHL board & world class medical team. I have never been more happy with the direction of the business. The board and team & in-particular Joel deserve full respect for making the hard call & walking away from the US listing last month. This was a decision made for shareholders, with Joel knowing he was in for some tough weeks of backlash as he navigated the new direction. Quick thinking at the 12th hour has put has back in a position of strength & no dilution leading into our introduction to the USA. There are going to be a lot of people over the coming months wondering "Where did this company come from & why didn't we find it earlier". Well they didn't look hard enough. The below is just 1 of 6 areas that the team are completing clinical trials on. Soon to be released & in my view, soon to change the main treatment of a multi-billion dollar industry.Why I think Incannexwill take on the Obstructive Sleep Apnoea world & Win!
I thoughtthis would be a great spot to start. The link to Incannex’s December 2021announcement
Incannex Completes Dosing Patients inPhase 2 Proof-of-Concept Trial of IHL42X for the Treatment of Obstructive SleepApnoea - https://stocknessmonster.com/announcements/ihl.asx-3A584157/
Now you knowwhat they are up too, let me explain why Incannex’s CEO believes “OSA remains asignificantly unmet medical need” and the market they are aiming to conquer.Furthermore I have attached my first hand research conducted over the pastmonth to strengthen my understanding of the current treatment and patients.
Compliance of existing CPAP Studies
Therate of CPAP adherence remains persistently low over twenty years worth ofreported data. No clinically significant improvement in CPAP adherence was seeneven in recent years despite efforts toward behavioral intervention and patientcoaching. This low rate of adherence is problematic, and calls into questionthe concept of CPAP as gold-standard of therapy for OSA. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4992257/
AdditionalStudy
Although many patients with OSA derivesubjective benefit from, and adhere to treatment with CPAP, a significantproportion of those so diagnosed either do not initiate or eventually abandontherapy. Initial experience with CPAP appears to be important, reinforcing theneed for early education and support in these patients. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC2679572/
AdditionalStudy over 20 years old.
A French survey of 3,225 patients treated with CPAP for obstructivesleep apnoea: benefits, tolerance, compliance and quality of life. https://erj.ersjournals.com/content/erj/12/1/185.full.pdf
AdditionalStudy
Despite strongevidence supporting the benefits and effectiveness of CPAP, particularly inmore severe cases, as well as improved access to treatment and majorimprovements in CPAP machine and mask technology over the past three decades,patient adherence to treatment frequently remains poor. Up to 50% of patientsrecommended CPAP may not have commenced or be using treatment after 1-3 years. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC2954420/
Resultsof non-compliance
The study shows that non-compliant patientsare 3.5 times more probable to be readmitted to the hospital within a span of30 days. These non-adherent patients are 2 times more likely to be readmittedto the hospital for cardiovascular conditions such as congestive heart failure,myocardial ischemia, and atrial fibrillation which are closely related tountreated obstructive sleep apnoea. https://cpapvictoria.com.au/blogs/cpap/non-compliance-to-cpap-therapy-linked-to-hospital-readmission
Marketsize
The global sleep apnea devices market isprojected to grow from $8.09 billion in 2021 to $13.10 billion in 2028 at aCAGR of 7.1% in forecast period, 2021-2028 - https://www.fortunebusinessinsights.com/industry-reports/sleep-apnea-devices-market-100708
Conclusion
The current treatment of Obstructive SleepApnoea using a CPAP machine is not compatible with all patients. There will bean alternate treatment arrive at some point and I believe Incannex are thefront runner and well positioned to deliver this.
My Own CPAP User Research
Purpose
1. UnderstandCPAP machine users & current best on market product solution. CPAP MACHINE
2. Understand“IF” Incannex had a pill solution, would existing CPAP users switch, eventhough they had invested a good quid in their CPAP Machines.
Over the past month- leadinginto OSA results being delivered – I conducted my own in-depth CPAP userresearch.
I spoke with a range of peoplewho have been diagnosed with Sleep Apnoea. With the focus on CPAP Machine use,both beginners and longer-term users.
How I found theparticipants
I found the users group throughCPAP Support Group’s on FB & sellers of CPAP machines on Gumtree. I spokewith over 20 participants through social media, email & phone.
See my summary below.
Common Sleep Apnoeasymptoms described
Waking up in the middle of thenight “gasping”, heavy snoring, dry mouth, daytime exhaustion, falling to sleepduring the day, mood swings, anxiety about not sleeping, poor metal health. relationshipissues. headaches. feeling embarrassed.
Complications
Very hard to get comfortable,have to change sleeping position.
Have to change completesleeping patterns and conditions eg – moving out of main bedroom, installationof power-points, setting up while partner is asleep.
Finding advice.
Feeling claustrophobic
Travel - can be taken on aplane as carry on – must be declared when you book flight – quite embarrassing.
On-going service andmaintenance
Clean mask every day – usuallylasts for a year, tubes/hose every week and filter every 3 to 6 months.
Once a year - take machineback to provider for servicing.
Positives
These days they are prettywell silent.
Have a delayed pressurestarter.
The masks are a lot better thanthey use to be - but can still leak slightly.
After settled into routine –noticeable improvement and reduction/removal of symptoms.
Offer peace of mind.
Good data collection on sleeppatterns for monitoring.
Continued use
Majority of the candidates Ispoke with were still using or trying to use the machine, hence why they wereon support groups. However, the Gumtree sellers would never buy one again.Example below
Last question I askedall participants
I asked all candidates – wouldyou transfer to a daily pill if it offered similar results. “EVERYONE”of the them said absolutely and asked if this was an option. The Gumtree groupalso said they would re-visit the specialist if a pill was an option.
My own summary
The CPAP Machine works but isfar from the end solution. All participants I spoke with, are looking forfurther developments in the long-term treatment of their Obstructive SleepApnoea. If the board can produce positive results in the coming weeks, they areon the path to eventually providing a less intrusive option of treatment thatwill quickly attract market share of the multibillion-dollar Sleep Apnoeatreatment industry.
Twitter - @tossydog
